Grain Exporters Will Not Have to Pay "Export Deposits"

The Tax Committee of the Verkhovna Rada agreed on new decisions regarding the export of agricultural products. An important step was the abolition of the requirement to create "export deposits" for the grain exporter. The norm regarding the mandatory deposit of 15% of the value of goods that are sent for export will not apply.

Bill No. 8166-d was developed to replace bill No. 8166. It removes discriminatory norms for exporters. It has already been supported by agrarian associations of Ukraine. The purpose of the document is to ensure the return of foreign exchange earnings and the regulation of the balance of payments in agricultural exports. The document expands the opportunities for agricultural producers, as they will be able to export without additional regulation.

At the same time, if agricultural producers need to exceed the established limit, then a tax at a rate of 14% will have to be paid on profits received above the limit. After the return of foreign exchange earnings, you can adjust the invoice from the rate of 14% to 0% and receive a VAT refund.